https://www.taxtmi.com/caselaws?id=470828 Peak Credit Theory cannot be applied merely because unexplained cash receipts and expenditure exist. Cash receipts omitted from the cash book and not linked to sales, loans, or another explained source remain liable to addition as unexplained cash credits. Expenditure is explained only to the extent its source is traceable to disclosed funds or to undisclosed receipts already taxed; any balance remains unexplained. Deleting a cash-receipt addition after accepting the receipt as unexplained requires supporting reasoning. The deletion and restriction of additions through peak-credit application require fresh determination under these principles. en-us Wed, 26 Mar 2025 00:00:00 +0530 Mon, 10 Aug 2026 21:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470828 Peak Credit Theory cannot be applied merely because unexplained cash receipts and expenditure exist. Cash receipts omitted from the cash book and not linked to sales, loans, or another explained source remain liable to addition as unexplained cash credits. Expenditure is explained only to the extent its source is traceable to disclosed funds or to undisclosed receipts already taxed; any balance remains unexplained. Deleting a cash-receipt addition after accepting the receipt as unexplained requires supporting reasoning. The deletion and restriction of additions through peak-credit application require fresh determination under these principles. Case-Laws Income Tax Wed, 26 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470828